Johnson Outdoors Receives $3.5 Million Settlement; Will Have Positive Impact of $0.22/Share
Johnson Outdoors Inc. (Nasdaq: JOUT) today announced it has received a $3.5 million settlement resolving the Company's long-standing claim with its insurance carriers. The Company initiated legal proceedings in May 2005 to seek coverage related to an intellectual property dispute between the Company and one of its competitors, which was eventually settled. As a result of today's announced settlement, the court case against the Company's insurers will be dismissed.
The Company anticipates the settlement will have a positive impact on Fiscal 2012 earnings of approximately $0.22 per diluted share.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.